Viet Nam is in the process of reaching various free trade agreements
(FTA) with its partners, and for survival and growth, they should seek
opportunities and connections while competing in the market.
Viet Nam imported 10,100 completely built units (CBU) cars worth US$180
million in the first quarter, up 44.1 per cent in volume and 32.2 per
cent in value year-on-year.
A HSBC report released yesterday anticipates that Viet Nam''s
merchandise exports will grow at around 12 per cent annually between
2014-2016, although last year''s figure was 15.4 per cent in nominal US
dollar terms.
Boasting more than half a billion people, abundant natural
resources, and a strategic geographical location, the Association of
Southeast Asian Nations (ASEAN) has the potential to become a leading
global economic force in the near future.
Viet Nam''s automotive industry could face major collapse under
commitments to the ASEAN Free Trade Area (AFTA) which will abolish auto
import taxes in 2018.